Libra White Paper Shows How Facebook Learned From Bitcoin and Ethereum

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As a first step toward achieving the "decentralized" part, the protocol has been turned over to a new organization, the Libra Association, whose members will hold separate tokens allowing them on-chain voting rights to govern decisions about Libra.

"Over time, it's designed to transition the node membership from these founding members who have a stake in the creation of the ecosystem to people who hold Libra and have a stake in the ecosystem as a whole," Ben Maurer, Facebook's blockchain technical lead, told CoinDesk in an exclusive interview.

In short, Libra is designed to be a high throughput, global blockchain, one that's built with programmable money in mind but limits how much users can do initially as it evolves from prototype to a robust ecosystem.